Month : April 2019

Business

Why you should start your own business

Starting your own business is challenging. It will drain you on both a physical and emotional level as you battle with anxiety, fatigue and doubt. It will present financial obstacles and risks that will determine your future. So, why do so many people take the leap to chase their business dreams and become entrepreneurs? There are just as many, if not more, positive reasons why people start their own business. Here are just a few that may convince you to do the same:

  • You’ll be able to do something you love

There’s nothing worse than dreading going your day job every day. Starting your own business gives you the opportunity to do something you love and make work your passion. As a result, you’ll have more drive, be more inspired and be more willing to go the extra mile.

  • You can establish a work/life balance

It may take some time, but one of the pros of owning your own business is that it offers flexibility. You may be able to set your own hours, work from your chosen location, hire who you want. Once established, you’ll be able to develop your own schedule that helps you achieve a work/life balance you’ve always desired.

  • You can enjoy tax benefits

Found a good retail space for sale but worried about all the costs? Thankfully, owing your own business comes with some good tax perks. You may be able to write off the cost of your car, phone bills, travel, equipment, and so on. You may even qualify for a government incentive that will help fund the cost of renting or buying a space for your business.

  • You’ll build a strong network

Initially, starting a business on your own can feel isolating but it also gives you an opportunity to build a strong network of like-minded people. You’ll be able to swap stories of the challenges that come with entrepreneurship and even find the right mentor that will help guide you on your journey.  

  • You’ll gain financial independence

One of the biggest reasons people take the leap and work for themselves is financial independence. Whether it’s increasing your wage or growing your savings to buy a house or secure your retirement, establishing your own business can offer that and more.

  • You’ll build something to pass on

Owning your own successful business gives you an opportunity to proudly pass it on to the next generation. One day, your passion may become your child’s passion allowing you to watch on as your business expand beyond your original expectations.

  • You’ll grow

By far one of the best outcomes of starting your own business is the growth you’ll experience as an individual. Your knowledge will expand, you’ll develop new skills and you’ll become more resilient. You’ll never gain this growth working for someone else.

Top tips for starting your own business

Feeling inspired to take the leap of faith? Here are a few tips to get you started:

  • Develop a detailed plan that outlines your mission, goals and deadlines
  • Understand your financial commitment and establish a budget
  • Know the ins and outs of your customer
  • Find your point of difference that sets you apart from similar businesses
  • Get out there and network seeking advice and mentorship
  • Remain determined. Don’t give up when you’re faced with the first road block.
Financial Freedom

How To Make Your Dreams Come True When Paying Down Debt

Dreams come true

So you are on the way to paying down your debt and you’re feeling good because you’re making progress toward your financial freedom. But what else are you doing during this time?

It can get boring just paying off debt each paycheck. So what do you do to make this time more exciting?

Well, you’re really focused on paying down the debt…so that’s good. What you need to do is adjust the focus so you also see the horizon. What are you going to do once you pay down the debt?

It’s going to be even more boring if you get to a destination and you have nothing to do.

Brain Fart

Write down everything that you want to do when your debt gets paid off. I mean everything, no matter the cost. Imagine there are no limits….because there won’t be.

After you have your dreams written down, prioritize them from what you want to do the most to the least. After the first 10 it probably doesn’t matter the order, so don’t waste your time on it until you get the first 10 actually completed.

Now, here’s what’s going to take up your in-between time and get you even more excited about getting out of debt.

Step-up

Start with number 1 and write out all of the steps it would take for you complete it.

Now get back to reality and see if it’s possible with out going backwards into debt. If all of the steps are physically possible (as in, don’t let your mind tell you it’s not) then move on to #2 on the list.

Google it

If there are steps that aren’t’ possible in reality then go to the best source for information….GOOGLE. That’s your number 1 resource.

Search for solutions to what’s making that step not possible. If it’s Money, then search for cheap/free alternatives to that step. If it’s fear, then search for people/blogs that have done that step and find out how they got over their fear….because everyone has fear.

If for some reason Google fails you then hit up Twitter and ask….people will help. If anything just ask me @FinanciallyPoor

The point is to find out that your dreams can come true and the only person stopping you….is you.

Once you have those top 10 figured out, Do Them. There should be a couple you can do before you even pay off your debt….Do them.

That will help you get through your waiting time and make your dreams come true.

Help other people make their dreams come true by Tweeting and Facebook sharing this post

Are your dreams possible? What steps are stopping you?

 

Business

Why should you know Chinese to trade in China?

Communication is the key whenever people are trading. The parties involved have to understand each other whenever they are striking their deals. Communication barrier is a limit to growing your business in other areas. China is offering various chances for people from other countries and continents to exploit. To trade in china, know their language because of the following reasons.

Navigation

China is a very vast country and that makes it cumbersome for a foreigner to know where to start in building a business. To select the most suitable starting point, you will need assistance in navigating through the country. Knowing the Chinese language will aid you in getting the assistance of the locals to navigate in China. You will be able to communicate what you want exactly.

Local presence

It is apparent that you must learn the Chinese language in order to establish a strong business in their turf. Very few Chinese people have the ability of speaking other universal languages like English and French. Since you require the attention of numerous Chinese to make more sales and better deals, you have no choice but to learn their language. Chinese language is becoming popular too.

Personal interest

To transact well with most Chinese traders, you must learn to develop a personal interest in them. Chinese treasure personal relationships especially in businesses. Commitment to learn their language shows a sign of commitment in cultivating a better personal relationship. Such close relationships will earn you better business partners and financial aid when needed.

Quick establishment

To capture the Chinese market, it is necessary to study them. Your research can only be accurate when you handle it using their language. Your interaction with the locals will make it easy for you to know more about them. The faster you learn Chinese the faster you will have a great business. Thus, it is advisable to enrol in a reputable institute for Chinese tuition. You will find many institutes.

Location

Many international businesses are opting to invest their businesses in China. This is due to the favourable economic conditions and availability of cheap skilled labour. That has resulted in high competition in the major cities. To know of the upcoming towns within China with a promising future, you need the direction of the learned locals. Hence, you must speak their language.

Building staff loyalty

Another problem that numerous companies have in China is retaining their skilled experts. Entrepreneurs know the importance of having highly skilled and knowledgeable experts in their businesses. Retaining the experts depends on the relationship that you have with them. To have a healthy relationship with the experts, it is vital to have a common language.

Getting customers

One common trait that Chinese consumers have is shopping local. Using your international dominance in trying to attract them will culminate in futility. Brand your trade to look local for the Chinese people. Blending in with the locals will enable you to think like a Chinese entrepreneur. Effectual blending is possible when you know their language. This will enhance interaction.

Money Management

Mobile Coupons Save You the Hassle at the Register (And a Lot of Money)

Your smartphone could be one of the most powerful weapons in your money-saving arsenal. Mobile coupons help shoppers save instantly — while they’re in the store — without the paper-wasting hassle of printing or clipping. Say goodbye to extreme couponing: There are a whole host of mobile apps designed to deliver relevant, free coupons directly to your smartphone.

Pushpins

Allows you to scan an item while you’re in the grocery store and automatically redeem pushpin coupons.[1] Your savings are instantly applied to your store savings card and are redeemed when you swipe your card at the register. You’ll also be able to check an item’s nutritional information, and share your saving savvy over social media. If you allow push notifications, they’ll let you know when your coupons are expiring, so you don’t miss out on a killer deal. Pushpins works in over 2,000 grocery stores and is adding new locations across the country every day.[1] Check Pushpin for your local grocery store and write to them if you don’t see it. They’re working to incorporate local and chain stores close to their customers.

Coupon Sherpa

This app provides you with coupons directly through your smartphone. You’ll be able to access hundreds of in-store coupons and search either by product category or store name.[2] If you’re having trouble finding a store location, Coupon Sherpa can help you find the store nearest to you. With this app, not only will you receive exclusive coupons, you’ll also be able to skip scouring the internet for discounts. The Coupon Sherpa staff will hunt down those deals for you and add new coupons daily.[2] You can share your coupons with friends via email and invite them to participate in the savings too.

WOWPONS

Combine green shopping and bargain hunting with WOWPONS’ mobile coupon app. They accumulate grocery coupons for everyday brands and provide them to their app users daily.[3] A big part of saving is staying organized, and WOWPONS’ grocery list feature allows you to do just that. You can create, share, and save multiple shopping lists and access them from your phone as soon as you step into the grocery store. Additionally, WOWPONS will remind you when your coupons are close to expiring and alert you to new discounted products that you might appreciate.[3]

Yowza!!

This app has taken going local to heart: they provide app users with free coupons and deals from nearby businesses. When you’ve entered your geographic location, Yowza!! will hunt for offers as close as a mile away, and as far as 50 miles away. Customer satisfaction is one of their top priorities, so they won’t spam your phone. You can access deals on your own time instead of being bombarded with messages.[4]To cashin your coupon, all you have to do is let the cashier scan the product’s barcode on your smartphone. Since the deals come straight from merchants, there’s a much lower chance of your coupon being rejected; Yowza!! is working to add new merchants across the country every day.[4]

Cellfire

With Cellfire, you can find deals on the Cellfire website and save them to your smartphone to use at your convenience. Just show the coupon to the cashier to receive your discount. When you hut for grocery coupons, your selected savings will be saved directly to your store savings card, so that they are automatically deducted when you swipe your card.[5] Cellfire emphasizes relevance, so they take care to send you offers that you’ll actually be interested in and remind you if any of your saved coupons are due to expire soon.

Download any one of these apps to join the mobile coupon revolution. They could save you a ton at stores that you visit every day. Get access to coupons for groceries, clothes, electronics, and more, that are all easy to use and conveniently located on your smartphone.

Rachel writes articles for Allied Cash about, responsible borrowing, investment, and budgeting.

References 

1. “Pushpins:About.” Pushpins. n.d. n. page. Web. 4 Jun. 2012. <http://www.pushpinsapp.com/about>.

2. Coupon Sherpa LLC. “Coupon Sherpa Mobile Coupons.” iTunes Preview. n.d. n. page. Web. 4 Jun. 2012. <http://itunes.apple.com/app/coupon-sherpa-mobile-coupons/id309938343?mt=8>.

3. “Mobile Coupons.” WOWPons. n.d. n. page. Web. 4 Jun. 2012. <http://www.wowponsmobilegrocerycoupons.com/mobile-coupons.html>.

4. “Yowza!! Is Savings in Your Pocket.” Yowza!!. n.d. n. page. Web. 4 Jun. 2012. <https://getyowza.com/learn>.

5. “What is Cellfire?” Cellfire. n.d. n. page. Web. 4 Jun. 2012. <http://www.cellfire.com/whatiscf.php>. 

Mind Over Money

How To Make A New Years Resolution That Works

Every year people make new resolutions that they hope to accomplish for the next year. Most probably won’t keep it. There are many reasons why but it’s usually for lack of actually wanted to complete it. Here are 3 steps to make a resolution and how to keep it.

“Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, the providence moves too. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents, meetings and material assistance, which no man could have dreamt would have come his way.”

~William Hutchinson Murray

Stay in reality

“Reality is that which, when you stop believing in it, doesn’t go away.”  ~Philip K. Dick

If the goal is to make a million dollars by the end of next year, it’s probably not going to happen unless you win the lottery. If you want that goal then by all means try it but make sure you complete the next step before you make it your final resolution.

It is good to push yourself so that you change but make it somewhat achievable. For instance you could say I want to make 20% more that I did this year or save 20% more. You could even say I want to make a budget and stick to it every month.

Make plans to succeed

“He who fails to plan, plans to fail”

~Proverb

How are you going to achieve your resolution? Saying what you want to accomplish is one thing, but planning how you’re going to do it is what will make or break your resolution. Break down your final goal into small monthly goals. That will help bridge the gap between where you are and where you want to be.

For instance, If you want to make 20% more than you did last year, that could be $10,000. That equals $833 each month you would have to make extra. Then you brainstorm different things you could do for that amount. Perhaps a second job, or selling some items. Just come up with as many things, even unfeasible things, and then go through them and find what will work. That’s your plan and that will help you succeed.

Become accountable

“Accountability breeds response-ability.”

~Stephen R. Covey

You can do all that, but tell no one, so that way if you fail then no one will know. Yea that’s the easy way but that’s not going to change your life, tell someone what you’re going to do. Maybe they’ll even want to join you. But the point is to bring someone on that can hold you accountable for what you want for your life. A loved one or friend is preferable but if you don’t want to as them, then give me a try and sign up for my free monthly accountability emails, where’ I’ll keep you going month after month and we can motivate each other  to complete our resolutions.

The point of a resolution is to change something in your life because you’re not happy with what you’re currently doing in that area. Keep this resolution and you will have a new life you are happy with. It’s time to finally take a leap. JUMP!!

Are you going to take the leap this year?